ReVenture Park names financing partners

Charlotte-based Forsite Development said today that it now has financing partners for a proposed plant that would burn Mecklenburg County’s garbage and convert it to energy as part of the ReVenture Park development.

ReCommunity, Pegasus Capital Advisors and Hannon Armstrong Securities will team with Forsite to redevelop a 667-acre shuttered textile dye-manufacturing site in northwest Charlotte into an eco-industrial park. ReVenture is being developed on a Superfund site, a federal designation given to heavily contaminated areas that pose risks to health and the environment.

“In addition to providing capital, these partners bring deep technical and development experience that will help us successfully navigate the complex regulatory framework,” Forsite President Tom McKittrick said.

In addition to the waste-to-energy plant, the ReVenture project will include other clean-energy projects, solar energy fields, wastewater treatment and reuse, incubator labs and research and development facilities, Forsite said.

The plant is expected to generate enough electricity to power more than 20,000 homes a year.